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Cited by 194Financial Literacy, Pension, Retirement AnalysisFinancial Literacy and BehaviorDecision-Making and Behavioral Economics

In Our Best Interest: Women, Financial Literacy, and Credit Card Behavior

Open access
Mottola, Gary·2013·Numeracy
DOI 10.5038/1936-4660.6.2.4
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Abstract

Data from the FINRA Investor Education Foundation’s National Financial Capability Study revealed that women were more likely to engage in costly credit card behaviors--like incurring late and over-the-limit fees--than men. After controlling for a number of demographic variables, including financial literacy and a self-assessment of mathematical ability, the gender-based differences in credit card behavior were eliminated. These findings suggest that credit card management differences between the sexes could be reduced if parity existed between men and women on important variables that women tend to trail men on, such as income and financial literacy.

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Crossref · 10.5038/1936-4660.6.2.4

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24 of 24 references verified0 citation errors · 0 not checkable

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  • Individuals with low levels of financial literacy are significantly less likely to use their credit cards efficiently.

    “Other recent studies document that individuals with low levels of financial literacy are significantly less likely to use their credit cards efficiently (e.g., Lusardi and Tufano 2015;Mottola 2013;Allgood and Walstad 2013).”

    From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as Mottola 2013

  • Financially literate respondents are less often found to exhibit costly credit card behaviors such as being charged a late fee for late payment or not paying down credit card debt in full.

    “Analyzing the same dataset, Mottola (2013) also confirms that the financially literate respondents are less often found to exhibit costly credit card behaviors such as being charged a late fee for late payment or not paying down credit card debt in full.”

    From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as Mottola (2013)

  • Those with low financial literacy were more likely to engage in costly credit card behavior.

    “Similarly, Mottola (2013) found that those with low financial literacy were more likely to engage in costly credit card behavior”

    From Financial literacy and the need for financial education: evidence and implications (2019) · cites this paper as Mottola (2013)

  • Women are more likely to be behind on other types of debt and have worse credit scores.

    “are more likely to be behind on other types of debt and have worse credit scores (Geng, 2018; Mottola, 2013)”

    From Debt, Incarceration, and Re-entry: a Scoping Review (2021) · cites this paper as Mottola, 2013

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Authors
Mottola, G.
Corresponding author
Mottola, Gary
ORCID
Mottola, Gary
Venue
Numeracy
Publisher
University of South Florida Libraries
Published
2013-07
Volume
6
Issue
2
ISSN
1936-4660 (ISSN-L)
DOI
10.5038/1936-4660.6.2.4
OpenAlex
W2077100609
Cited by
194
References
27
Citations by year
2026: 6 · 2025: 18 · 2024: 17 · 2023: 16 · 2022: 22 · 2021: 16 · 2020: 17 · 2019: 18 · 2018: 18 · 2017: 10 · 2016: 9 · 2015: 11 · 2014: 6 · 2013: 9 · 2012: 1
FWCI
45.27
Type
journal article
Language
en
Open access
Licence
cc-by-nc
Locations
  • Numeracy (publishedVersion, cc-by-nc)
  • Digital Commons - University of South Florida (University of South Florida) (submittedVersion, cc-by-nc)
  • DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
Topics
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
  • Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
  • Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
Keywords
financial literacy, gender differences, women, late fees, mathematical ability, financial capability, credit card management

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